Mr. Lai Nang Thuy - Chairman of the Board of Directors of Loc Son People's Credit Fund, said that the unit was established in 1995 under Decision No. 390/QD-TTg of the Prime Minister. Since then, Loc Son People's Credit Fund has contributed significantly to the socio-economic development of Lam Dong province, especially in rural areas. According to the unit's financial report, by the end of 2024, Loc Son People's Credit Fund had a total operating capital of VND 1,329 billion, an increase of VND 400 billion compared to 2020. In 2024, the unit's total revenue reached VND 112 billion, an increase of 33% compared to 2020. The after-tax profit of Loc Son People's Credit Fund in 2024 reached VND 24.5 billion, an increase of 49% compared to 2020. "In 2020, the unit's mobilized capital reached VND 820 billion, by 2024, the mobilized capital increased to VND 1,170 billion. Currently, the average income of 1 employee at Loc Son People's Credit Fund is VND 18 million/month. In 2024, the unit paid over VND 5 billion to the State budget," Mr. Thuy added.
According to the Chairman of the Board of Directors of Loc Son People's Credit Fund, the unit is completely proactive in lending capital sources, as well as payment reserves. In 2024, the outstanding loan balance of Loc Son People's Credit Fund reached 958 billion VND, an increase of 300 billion VND compared to 2020. Thanks to the unit's credit activities, it has actively contributed to poverty reduction, expanding professional services, creating more jobs for local workers, and people have more financial conditions to invest in production, renovate houses... "In addition to professional activities - mobilizing capital and lending capital to serve production and business - Loc Son People's Credit Fund also regularly pays attention to doing good charity work: giving charity houses to the poor, donating medical equipment to Lam Dong General Hospital II and Bao Loc Traditional Medicine Hospital... The unit also regularly helps with scholarships to help poor students overcome difficulties to study well, supports the Agent Orange fund, the fund for the poor, the temporary housing elimination fund...", Mr. Thuy informed. From 2020 to 2024, the total amount of money that Loc Son People's Credit Fund has donated to charity work is more than 4 billion VND. The Chairman of the Board of Directors of Loc Son People's Credit Fund said that the amount of money not only has the meaning of helping people in need, but also creates a connection between the unit and social components, creating more trust from everyone for Loc Son People's Credit Fund. "The loan procedures here are very simple and convenient. We don't have to travel much, while the interest rates are also very suitable. Fast disbursement time is also an advantage of Loc Son People's Credit Fund, helping us quickly access capital sources," a borrower shared.
According to Mr. Thuy, in order to meet the people's demand for loans to develop production and business, the unit has been and will closely follow the socio-economic development goals of the province to appraise investment loans, promptly resolve loan sources for the people, at the same time strictly comply with the procedures and regulations in lending and capital management, as well as actively collect debts.
In recognition of the contribution of Loc Son People's Credit Fund in its professional activities, in 2023, the unit was honored to receive the Emulation Flag from the Government. In 2024, Loc Son People's Credit Fund was one of 100 cooperatives nationwide to receive the Cooperative Star Award from the Vietnam Cooperative Alliance. The unit has also received many Certificates of Merit from the People's Committee of Lam Dong province...
Source: https://baolamdong.vn/quy-tin-dung-nhan-dan-loc-son-dien-hinh-trong-phong-trao-phat-trien-kinh-te-tap-the-384587.html
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